How to Buy Bitcoin on Coinbase (and Ethereum)

All right, so I've gone through the verification process now, I've uploaded all those documents, I've added my email, I've added my phone number, I've got that confirmation, I've upload my ID cards and everything, and the utility bill – my thing's being verified, and I've added two different payment methods – two different visa cards actually So what do I do now? Alright, so when we look at the screen here I can buy Bitcoin, Ethereum, or Litecoin This is showing the current price, and the price over the last month, and how much it's gone up – it's gone up 170% in the last month

Ethereum – 86%, Litecoin 428% So, everyone's been going nuts about Bitcoin, but Litecoin would have made more Anyhow, so there we are So, that's my dashboard – it shows my portfolio

What have I got at the moment I've got €913 I bought, of Bitcoin – I bought that earlier actually, just to check it again I've got some euros in my account, I've got no litecoin, no etherium

Here's some of my stuff – so that's my dashboard – here we've got the 'buy and sell' So, here – really simple – buy, or sell, buy, sell So on 'Buy', I can buy Bitcoin, or I can buy Etherium, or I can buy Litecoin okay So, really simple – here I've got my accounts – now, my accounts are basically – they're places to store each of the cryptos Now, they call them each a wallet alright – a wallet is just basically a secure place to actually store your cryptocurrencies once you've bought them, okay They call it a wallet because, obviously, we're used to money – we put money in a wallet, so we buy cryptos, and we have a separate application called a 'wallet' – a place to store them They function as sort of mini bank accounts really, but you've got to be aware that your Bitcoin wallet

You can't put Ethereum in your Bitcoin wallet, you can't put litecoin in your Bitcoin wallet – only Bitcoin goes in the Bitcoin wallet Only Ethereum goes in the Ethereum wallet, and only Litecoin goes in the Litecoin wallet So, each crypto has its own wallet, and that's very important – you don't want to try and ever, ever transfer your Ethereum to a Bitcoin wallet, because it just won't show up, and you'll lose that

You have to be quite careful I think, at the moment, cryptos and all of this – it's still, you know there are old exchanges like the Nasdaq and, you know, the London Stock Exchange – these stock exchanges have been around for a long time

The crypto exchanges – this whole thing's fairly new, so it's still sort of in the infancy It's becoming more and more user friendly but at the moment, it's still – you have to be quite disciplined, and quite careful, and move things to the right place I'm sure, as it goes along this is going to get a lot simpler, and you're eventually just going to be able to move any crypto into your wallet, and it'll sort that out

But, at the moment, it doesn't sort it out – you have to pay attention to that carefully, or you could just lose your money So, that's my Bitcoin wallet, that's my ethereum wallet, and that's my litecoin wallet Now, with wallets – these wallets are obviously on Coinbase – these are on the actual website that I'm looking at

There are different types of wallets Some are stored 'in the cloud' – so they're wallets which you can access from your computer, or you can access the same wallet from your phone, or tablet, or whatever And it stores them in a secure place, somewhere on a server okay – in the cloud A lot of people say that those are the most hackable, so you want to watch them – they're always trying to make this safe, you know – it's a bit like the Wild West still You know, the early gold rush, back in the Wild West you'd see bank robbers, you know, and people robbing freight trains – and you don't see that stuff anymore in the real world, you know Apart from if you're watching Heat or something – you don't see that

But around this, it's kind of the same It's a new kind of frontier, of assets, and wealth storage, so there's, you know, hackers and there's So, they're trying to constantly make it as secure as they can So, you have the online wallets, and then you have wallets which are on your phone – just on your phone Then you have wallets which are just on your computer so, they'll just be on this laptop – I can't view them from any other laptop I can't view them from a phone, like Exodus, which is really the one I'm using and I'll show you in another video about that one But, basically, those are ones which you have on your computer, then there are ones which are 'offline wallets' So it's literally like a USB key, where you'll download your cryptos into – stored on that, and you'll take that offline, and hide it somewhere, so that there's an air-gap, you know – people can't hack into that This wallet here, is actually the one in Coinbase You can keep it here, you know – it's not like they're all getting hacked all the time, it's not that insecure, but I'm just talking about you know – the levels of security people are really interested in Obviously, I'm not buying a lot of Bitcoin, I don't have a lot of money at the moment, but if I had, you know – 100,000, I'd want to make sure – or whatever, you know – even 2,000, 3,000 I'd want to make sure that that was safe So, here's the one on Coinbase which we can move now, and we can move this, from Coinbase, into another wallet When we get another wallet set up, we can easily send it to our other wallet So, this is just a place to store it, straight after you've bought it okay Some people do leave it here though

Then, you've got your tools, with addresses, recurring transactions, reports, and history I haven't really used them that much, and you've got your 'Settings', where you can change, you know, your nickname and stuff like that So, let's go back to 'buy and sell'

So, we're back on the 'buy and sell' page – Bitcoin, Ethereum, Litecoin I'm going to buy Bitcoin, because I mean – my goal with this, is to then transfer it to other exchanges, and buy lots of smaller coins But bitcoin is then the easiest one to do that with, you know You can do it with the Ethereum as well, but I'm going to buy Bitcoin So, 'Payment Method' I'm not going to use my wallet – some money which I've actually uploaded to the site – I'm going to select here, and choose one of the other bank accounts that I've selected So, I'm going to go here, and I'm going to choose that one, and then obviously, here – "You are buying 000 BTC" Here's my payment method and down here, this is how much I want to spend So, I'm going to buy 50 euros worth of Bitcoin, okay Simple So, at the moment, I have a 750 euro 'weekly card limit' – I can only, from this card – I can only buy €750 worth of Bitcoin a week

I can press 'Increase Limits', and it will take me to here, and it will show me how, you know – my euro wallet, I have 15,000 if I, you know – I can upload it to my euro wallet, within coinbase, then I can buy 15,000 worth of Bitcoin But, if I use this card, I can only use – I can only buy 750 a week "To increase your limit, buy $780 worth of digital currency with this payment method" So, it sort of unlocks more ability to buy, as you use it They're really Either they're 'gamifying' it, and just trying to make more sales by doing that – give you a level up, or they're really trying to check whether they can trust the cards – I'm not entirely sure what they do

So, there's my combined amount there So what I'm going to do – I'm going to go back to 'buy and sell', where I was before and I'm going to select that again, and I'm going to select 50 euros worth, and then I can just buy Bitcoin – it's really as simple as that They have made this – I mean, this is the biggest I think one of the biggest Bitcoin-buying sites in the world at the moment, so they've already made it really quite simple to use

So, Visa Debit – payment method, available instantly, deposit to my BTC wallet, you see – so, that's that place I showed you on the accounts page It will deposit this instantly, to that Bitcoin wallet So, I'm buying – I'm going to buy 4801, the Coinbase fee is $199 – they do charge fees you know – all of these exchanges charge fees, and there are different types of fees

There's the fee to buy stuff, then there's the fee to transfer it, which is actually a fee associated with Bitcoin itself – it's a network fee So, anyhow – the total for that is 50 – buy Bitcoin And what it sometimes does here, is it will ask for a sort of – a separate step of verification from

Here, look so 'You are buying 00033 Bitcoin" It shows everything here, and 'Authorize your transaction' 'To complete a purchase using (whatever) you must first authorise the buy with your card issuer

" So, I'm going to press 'Confirm Buy', and we'll see what happens Sometimes, a little extra layer of security pops up from your Visa card, or your card provider, because, you know – they want to check for online fraud, and 'is anyone else using your card?' So, we'll see what happens when I press that It's waiting for

I'm just waiting – what I'm going to do, because I've seen this before – where this, it stays on this screen, and it can just kind of stay here So, I'm going to go back to the dashboard, and I'm just going to check whether I actually have bought that Bitcoin already There we are, so back on my dashboard, in my portfolio, is now Bitcoin – I've got 92%, of my holdings, are in Bitcoin

I've got 0039 Bitcoin I've got that little bit, which I already had, and then I've got the new stuff 5754, and there, in my recent activity, it shows that transaction I bought 50 euros worth of Bitcoin

So, if I go to my accounts here There we are – BTC wallet In my Bitcoin wallet, I've now got 57

and you'll see this number changing it's not like a normal bank account – a normal bank account, you put your money in, and your money's in – it's sort of staying at that same level, unless you put in more, or they give you some charges, or you take some out On this, because it's a live asset, it's still – this is still checking what the price is, on the real exchange So, you'll see this number 5763 – you'll see that moving If the price of Bitcoin goes up, I'll have more value in here If the price of Bitcoin goes down, I'll have less value You see – it's 5773 – I've just made 10 cents, you know – just by leaving it here So, this is why people hold – this is why people buy, and why people hold Bitcoin Because it's obviously – it's a live asset It's still changing value

So there we are Now, if I want to send it, I can send it from here, and I have to put in the address of the wallet that I'm using, and I can send it to my wallet – my Exodus wallet So, I'm going to make a separate – my next video, is going to be about that

How do you send it How do you get the Exodus wallet? How do you set it up? What is it, and how do I send my Bitcoin there from here to keep it nice and safe Okay, so a quick separate thing – I just went here, and I went to 'invite friends' and here, they give me a little link, and it says that "If your friend buys, or sells 84 euros, or $100 of digital currency or more, you'll both get $10 of free Bitcoin" Which is awesome – free stuff! So, I'm going to put this link here into the description of this video, and so, if you're going to go to Coinbase, sign up using this link, and we'll both get $10 worth of free Bitcoin, which is nice You don't have to do that – obviously you can just go to Coinbasecom, but there we are I'm going to put this link in

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